1. Daily Commodity Outlook
25th October 2011
MCX GOLD (DEC 11) - Gold opened lower at 26712. It moved
Gold Silver Crude
(5 Dec-11) (5 Dec-11) (17 Nov-11)
higher to touch intra-day high of 26947 However, it failed to sustain
higher and moved lower to touch intra-day high of 26661. It ended
Open 26,712 53,188 4,389 the day on with marginal losses to close at 26726
High 26,947 53,645 4,559
The RSI is placed above its average. Further the Stochastic is also
Low 26,661 52,777 4,376
placed above its average. Both these conditions would fuel buying
Close 26,726 53,077 4,546 support. However, the Stochastic is placed in the over bought zone
and would result in profit taking and selling pressure at higher
Prev. Close 26,768 53,034 4,381
levels. The ADX, -DI line and +DI line are moving sideways
% Change -0.16% 0.08% 3.77% indicating a range bound trend. MCX GOLD faces resistance at
Source – MCX 27964, 28235, 28525, 28744 levels, while the supports are placed
at 25360, 24992 and 23176 levels.
Volume (In 000's)
MCX SILVER (DEC 11) - Silver opened higher at 53188. It moved
24/10/2011 22/10/2011 % Chg. higher to touch intra-day high of 53645. However, it failed to sustain
higher and moved lower in the evening session to touch an intra-day
Gold (grms) 37,961.0 2,554.0 1386.34%
low of 52777. It ended the day flat to close at 53077.
Silver (kgs) 1,855.4 83.1 2132.67%
Crude (bbl) 22,837.4 668.5 3316.22% The RSI has moved above its average. Moreover, the Stochastic is
placed above its average. Both these conditions would lead to
Source – MCX buying support. However, the Stochastic is placed in the over
bought zone and would result in profit taking and selling pressure at
Turnover (In Lacs) higher levels. The –DI line remains placed at 31.07 indicating sellers
still have an upper hand. MCX Silver faces resistance at 54377,
24/10/2011 22/10/2011 % Chg.
56981 and 61708 levels, while the supports are placed at 52365,
Gold 1,018,176.7 68,307.4 1390.58% 50223, 49828, 45824 and 42708 levels.
Silver 987,977.1 44,037.7 2143.48%
MCX CRUDE (NOV 11) - Crude opened higher at 4389 level. It
Crude 1,016,179.8 29,284.1 3370.07% moved lower to touch intra-day low of 4376. However, it managed to
Source – MCX bounce back from the lows to touch an intra-day high of 4559. It
ended the day higher with robust gains to close at 4546.
Global Market (Nymex - $)
The RSI and Stochastic are placed above their respective averages,
25/10/2011 24/10/2011 % Chg. which would lead to buying support. However, both the RSI and
Stochastic are placed in the over bought zone, which would lead to
Gold (oz) 1,645.00 1,651.50 -0.39%
profit taking and selling pressure. The ADX and –DI line are moving
Silver (oz) 31.65 31.64 0.02% sideways, but +DI line is place at 38.67 indicating buyers have an
Crude (bbl) 91.32 91.27 0.05% upper hand. It faces resistance at 4548, 4631, 4666 and 4879
levels, while the supports are placed at 4291, 4238 and 4182 levels.
Dollar Index 76.12 76.13 -0.01%
Source – www.cmegroup.com
Intra-day Resistance Intra-day Support
Commodities Close Pivot Point R1 R2 R3 S1 S2 S3
CRUDE OCT 11 4546 4494 4611 4677 4860 4428 4311 4128
GOLD DEC 11 26726 26778 26895 27064 27350 26609 26492 26206
SILVER DEC 11 53077 53166 53556 54034 54902 52688 52298 51430
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2. US Economic Calendar:
Wednesday Thursday Friday Monday Tuesday
Oct. 26 Oct. 27 Oct. 28 Oct. 31 Nov. 01
Personal Income and
Durable Goods Orders US GDP Data Chicago PMI FOMC Meeting Begins
Outlays
Employment Cost
New Home Sales Jobless Claims Farm Prices Motor Vehicle Sales
Index
EIA Petroleum Status Pending Home Sales
Consumer Sentiment 6-Month Bill Auction Construction Spending
Report Index
EIA Natural Gas
ISM Mfg Index
Report
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